Industry Participants Finding Footing within Evolving Digital Securities Sector

Rotating Rosters

As the digital securities sector finds its footing, so too are the companies involved with its development. As a result, we have seen various hiring and shuffling among high ranking employees at a variety of companies within the sector.

While some of these moves were undertaken in an attempt to infuse operations with new talent, a variety were simply repositioning workforces to ensure employees thrive. The following are a few examples of rotating rosters this past year – some under the radar, and some high profile.

HighCastle

• Denys Goncharenko transitions from CEO to COO.
• Philip Millar hired as CEO.

In a statement from Philip Millar, he touched on the potential of HighCastle.

“It’s very interesting to observe how the entire trading and investment industry evolves with the hype of technology and digital communications. I believe the development of blockchain-based investment marketplaces is bridging the gap between the new economy and institutions, fintech companies and their clients. I’ve recognized a huge potential in the HighCastle platform, technological and business ideas which the HighCastle founders are working to implement, and I’ve gladly taken the invitation to support and contribute to the Company’s growth.”

Polymath

• Trevor Koverko vacated CEO position.
• Kevin North hired as CEO.

This was a move that flew under the radar, as Polymath saw their Cofounder, and first CEO, Trevor Koverko, step down from his role. While he remains active with the team, day-to-day operations at Polymath are now overseen by Kevin North.

Smartlands

• Arnoldas Nauseda transitions from CEO to Chairman.
• Ilia Obraztsov transitions from CTO to CEO.

Smartlands has indicated that this move was undertaken in an effort to allow Arnoldas to concentrate on strategic expansion, in addition to business development. Smartlands indicates that building on his experience as CTO, Ilia was an ideal fit for replacing Arnoldas as CEO, due to the company’s focus on technological solutions.

Swarm

• Chris Eberle vacated role as COO.

Duties associated with this role have been assumed by continuing Swarm employees. While Chris Eberle remains as an advisor with Swarm, he has transitioned into a new role with Netflix.

Templum

• Kimberly Corrigan hired as Director of Distribution.

Speaking on her hiring, Kimberly Corrigan stated,

“Throughout my career, I’ve witnessed significant changes in public market infrastructure while the private markets’ infrastructure has largely remained unchanged. Joining Templum allows me to play a significant role in evolving the private markets by helping to increase exposure to alternatives through Templum’s industry leading end-to-end technology solution, which addresses a number of obstacles that both issuers and investors experience today.”

Overstock

• Patrick Byrne steps down as CEO of Overstock.
• Jonathan Johnson promoted to CEO.

Without a doubt, this changing of the guard remains the highest profile move in recent months. Patrick Byrne was an enigmatic leader of Overstock (mother company of tZERO). His ousting was truly bizarre, as the event was surrounded by storylines involving Russian spies, and allegations of market manipulation.

Thankfully, Overstock was ripe with talent, and was able to immediately promote a competent replacement from within their ranks.

Speaking on his promotion to CEO of Overstock, Jonathan Johnson had the following to say,

“Overstock has two unique businesses…I have run both, and I know how to unlock the value in each. I’m confident we can rapidly return our retail business to profitable growth. Our transformative blockchain businesses continue to lead their respective industries by getting real products into production.”

On-Going Process

As stated before, these are just a few examples over the past year of rotating rosters among companies within the digital securities sector. There will, no doubt, be more to come as these participants find their footing in the rapidly developing industry.